Middle East And Africa Biguanide Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 311.96 Million |
| Market Size (2029) | USD 370.86 Million |
| CAGR (2024 - 2029) | 3.52 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Middle East And Africa Biguanide Market Analysis
The Middle East And Africa Biguanide Market size is estimated at USD 311.96 million in 2024, and is expected to reach USD 370.86 million by 2029, growing at a CAGR of 3.52% during the forecast period (2024-2029).
Biguanides are a class of medications used to treat type 2 diabetes. They work by reducing the production of glucose that occurs during digestion. Metformin is the only biguanide currently available in most countries for treating diabetes. Glucophage (metformin) and Glucophage XR (metformin extended release) are well-known brand names for these drugs. Others include Fortamet, Glumetza, and Riomet. Metformin is also available in combination with several other types of diabetes medications, such as sulfonylureas.
As Type 2 diabetes is associated with both poorer clinical outcomes during the COVID-19 pandemic and an increased risk of death in such hospitalized patients, the role of glucose control has been emphasized to improve the prognosis. Metformin is the first-line choice for the management of hyperglycemia in T2DM. Besides being an important glucose-lowering agent, metformin also has significant anti-inflammatory.
Therefore, metformin has been a potential candidate for treating patients affected by COVID-19 infection, with type 2 diabetes, as well as an excellent antidiabetic (glucose-lowering) agent during COVID-19 pandemic times. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as administering additional insulin or ingesting additional carbohydrates by monitoring their blood glucose levels.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Middle East And Africa Biguanide Market Trends
Rising diabetes prevalence
The diabetes population in the Middle East and African region is expected to rise by approximately 3.2% over the forecast period. 73 million adults were living with diabetes in the IDF MENA Region. This figure is estimated to increase to 95 million by 2030. 48 million adults in the IDF MENA Region live with impaired glucose tolerance, which places them at increased risk of developing type-2 diabetes.
In recent years, the Middle East and African region has witnessed an alarming increase in the prevalence of diabetes. The rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels.
Diabetes reduces lifespan, and people with the disease are likely to experience blindness and be hospitalized for amputations, kidney failure, heart attacks, strokes, and heart failure. The first-line therapy used in patients with type-2 diabetes is metformin monotherapy. When metformin is contraindicated or not tolerated, or when treatment goals are not achieved after three months of use at the maximum tolerated dose, other options need to be considered. Dipeptidyl peptidase-4 inhibitors, sodium-glucose cotransporter-2 inhibitors, and glucagon-like peptide-1 agonists are generally used to supplement treatment with metformin.
Governments in the Middle East have identified the threat of diabetes and started to respond with various policies, initiatives, and programs. Six out of 15 countries in this region still do not have a national operational action policy for diabetes. Many countries still do not have a national strategy to reduce overweight, obesity, and physical inactivity, which are important risk factors for diabetes. Most counties have fully implemented national diabetes treatment guidelines. However, constant measures are being taken to minimize diabetic complications.
Owing to the rising rate of obesity, the growing genetic factors for type-2 diabetes, the increasing prevalence, and the aforementioned factors, the market will likely continue to grow.
Saudi Arabia is expected to register the highest growth rate in the Middle East and African Biguanide Market over the forecast period
Saudi Arabia is expected to register the highest growth rate of about 6.1% in the Middle East and African biguanide markets over the forecast period.
More than one in ten people in Saudi Arabia were living with diabetes, and the prevalence of the disease is expected to almost double by 2045, according to the report by the International Diabetes Federation. The IDF report mentioned that 4.27 million people in Saudi Arabia, which has a population of about 34.8 million, had diabetes, while 1.86 million people had the disease but were yet to be diagnosed. This figure is projected to increase to 5.6 million by 2030 and further increase to 7.5 million by 2045.
The growing incidence, prevalence, and progressive nature of the disease have encouraged the development of new drugs to provide additional treatment options for diabetic patients. Non-insulin treatments, used as first-line therapies for patients suffering from type-2 diabetes, currently capture more than half the sales in the anti-diabetic market. Oral antidiabetic agents work in various ways to reduce blood sugar levels in people with type-2 diabetes; some stimulate insulin secretion by the pancreas, and others improve the responsiveness of cells to insulin or prevent glucose production by the liver. Others slow the absorption of glucose after meals.
In July 2022, the Saudi Government announced that Saudi Arabia saw growing demand for quality healthcare services spurred by changes, including an increasing and aging population and a growing prevalence of lifestyle diseases such as diabetes and obesity. The government and private sector are both involved in working on healthcare entities, certifications, and regulations. The government is taking steps to have 100 percent of Saudi citizens covered by insurance and is working towards ensuring affordability, access, and quality digital healthcare and primary care with cost-effectiveness.
The market is expected to grow owing to the aforementioned factors over the forecast period.
Middle East And Africa Biguanide Industry Overview
The Middle East and African biguanide market is fragmented, with manufacturers like Takeda, Merck, Sanofi, GlaxoSmithKline, Bristol-Myers Squibb, and Boehringer Ingelheim Pharmaceuticals, etc. having a global market presence and other regional players.
Middle East And Africa Biguanide Market Leaders
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Bristol Myers Squibb
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Teva
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Sanofi Aventis
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Merck and Co.
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Glenmark Pharmaceuticals
*Disclaimer: Major Players sorted in no particular order
Middle East And Africa Biguanide Market News
- February 2023: Zydus Lifesciences Limited received tentative approval from the USFDA for Invokamet tablets (canagliflozin and metformin hydrochloride combination). Canagliflozin and metformin combination products are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus who are not adequately controlled on a regimen containing metformin or canagliflozin or in patients already being treated with both canagliflozin and metformin.
- July 2022: Zydus Lifesciences announced that it has received final approval to market empagliflozin and metformin hydrochloride tablets in multiple strengths. Empagliflozin and metformin hydrochloride tablets are used with proper diet and exercise to improve glycemic control in adults with type-2 diabetes mellitus. They are also used to lower the risk of cardiovascular death in patients with type-2 diabetes mellitus and established cardiovascular disease.
MEA Biguanide Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
- 5.1 Biguanide
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5.2 Geography
- 5.2.1 Egypt
- 5.2.2 Iran
- 5.2.3 Oman
- 5.2.4 Saudi Arabia
- 5.2.5 South Africa
- 5.2.6 Rest of Middle East and Africa
6. MARKET INDICATORS
- 6.1 Type-1 Diabetes Population
- 6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Teva
- 7.1.2 Merck
- 7.1.3 Takeda
- 7.1.4 GlaxoSmithKline
- 7.1.5 Sanofi
- 7.1.6 Boehringer Ingelheim
- 7.1.7 Glenmark
- 7.1.8 Bristol-Myers Squibb
- *List Not Exhaustive
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7.2 Company Share Analysis
- 7.2.1 Merck
- 7.2.2 Takeda
- 7.2.3 Sanofi
- 7.2.4 Other Company Share Analyses
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Middle East And Africa Biguanide Industry Segmentation
Biguanides are a class of diabetes medications that are used for people with type-2 diabetes. The Middle East and Africa biguanide market is segmented by geography. The report offers the value (in USD) and volume (in units) for the above segments. Further, the report will cover a segment-wise breakdown (value and volume) for all the countries covered under the table of contents.
| Geography | Egypt |
| Iran | |
| Oman | |
| Saudi Arabia | |
| South Africa | |
| Rest of Middle East and Africa |
MEA Biguanide Market Research FAQs
How big is the Middle East And Africa Biguanide Market?
The Middle East And Africa Biguanide Market size is expected to reach USD 311.96 million in 2024 and grow at a CAGR of 3.52% to reach USD 370.86 million by 2029.
What is the current Middle East And Africa Biguanide Market size?
In 2024, the Middle East And Africa Biguanide Market size is expected to reach USD 311.96 million.
Who are the key players in Middle East And Africa Biguanide Market?
Bristol Myers Squibb, Teva, Sanofi Aventis, Merck and Co. and Glenmark Pharmaceuticals are the major companies operating in the Middle East And Africa Biguanide Market.
What years does this Middle East And Africa Biguanide Market cover, and what was the market size in 2023?
In 2023, the Middle East And Africa Biguanide Market size was estimated at USD 300.98 million. The report covers the Middle East And Africa Biguanide Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle East And Africa Biguanide Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle East and Africa Biguanide Industry Report
Statistics for the 2024 Middle East And Africa Biguanide market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle East And Africa Biguanide analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
